Previously known as a full Structural Survey, a Building Survey is a wide-ranging inspection of a property. Occasionally, home buyers will use the former term, Structural Survey, to refer to a Building Survey. Regardless of which term you use, it is the most comprehensive of the surveys available for residential properties and will provide a detailed evaluation of a property’s condition.
The Building Survey report will describe the condition of each element of the house and identify the property’s defects, their apparent cause, the urgency of repair, maintenance options and may also include an indication of the cost to repair.
Although the most expensive survey, a Building Survey is the most comprehensive and detailed evaluation of a property’s condition and construction.
Building Surveys are conducted by Chartered Surveyors. It is important to check that the surveyor you select is regulated by RICS, as they set the guidance for surveyors and this will ensure that the advice you are getting is independent, expert advice from appropriately trained professionals.
The RICS HomeBuyer Report, a type of property survey recommended for home buyers, replaced the Home Buyer Survey & Valuation in March 2010, having run alongside it from July 2009. The HomeBuyer Report (HBR) is an up-to-date version of the previous Home Buyers Survey & Valuation.
As of 2016, the RICS introduced a new HomeBuyer Report without a valuation. This has the same components as the standard HomeBuyer Report, but without the valuation and reinstatement cost. It now means that RICS members do not have to be registered valuers to conduct surveys and that the market valuation part of the report is now optional - buyers who want to continue using the traditional HomeBuyers Report with the valuation can do so.
The two options:
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